Nordea Securities is to outsource its non-Nordic equity research to Standard & Poor's.
Under a subscription arrangement, Standard & Poor's will provide research on 120 US and European stocks for Nordea Securities. Institutional customers will gain direct access to S&P written research products, client meetings, telephone conferences and seminars.
Frans Lindelöw, head of Nordea Securities, says the deal will offer "access to a highly regarded independent international research product, giving our clients an overall better service."
Standard & Poor's equity research group consists of 80 analysts in the US, Europe and Asia, covering around 1350 stocks worldwide.
Geoff Hawksworth, head of Standard & Poor's equity business in Europe, describes the agreement as a landmark deal for S&P and for the independent equity research market in general.
He says: "We expect continued growth in demand over the next few years from both sell-side and buy-side institutions worldwide."